In 2022, mindsets around work have changed as Vietnam’s technology and transformation market adapted to the post-COVID era. “Remote or hybrid work is now very widespread. Companies have accepted this and found ways to adapt to people not being physically present in the office most of the time,” states Chris Bui, Manager at Robert Walters Vietnam. “More companies outside of the technology sector have also ramped up digital transformation efforts.”
Chris notes, “Winter has come to the industry, specific for the crypto, NFT and blockchain sector. Companies in this space froze their hiring plans and candidates were also hesitant to join companies offering USDT, tokens and cryptocurrencies. Large e-commerce corporations like Shopee and Tiki were also going through layoffs.”
“Nevertheless, Fintech remains a hot topic of discussion, with much activity among digital banking, lending and micro loans, e-wallets and buy now, pay later (BNPL) players,” Chris says.
Lastly, there was also a rise in overseas Vietnamese returning home to be closer to their families and loved ones.
Read on to find out more about Chris’s expectations of Vietnam’s labour market and hiring trends for Technology and Transformation professionals in 2023.
In 2023, more job offers will include hybrid or remote work options. Chris highlights how Vietnam will see higher demand for cloud computing, cybersecurity and data candidates. Companies will also place more emphasis on soft skills and English communication skills during the hiring process.
“DevSecOps, DevOps and security candidates will also be in hot demand, as will product owners and product managers. Candidates will fare well if they can display good communication skills in both English and Vietnamese, and strong people management skills are crucial for senior and managerial candidates.”
Key reasons why candidates seek to move jobs include advancing into the next stage of their careers, getting better compensation packages, and to stay challenged by entering new domains where they can keep learning.
Bearing this in mind, Chris recommends a holistic approach to talent retention in 2023. Employee engagement can be the first port of call. “Ask your employees – through surveys or townhalls – what they need to feel happier at work and how the business can help make that happen. Be sure to show that their voices have been heard by providing regular status updates on actions you are taking to address their feedback. Hold frequent brainstorming sessions and foster an open-door management policy to encourage employees to share ideas.”
Next, guide employees on their professional career development. Companies can work with employees to carve out their career roadmap and provide internal training or sponsorship for certifications to help them achieve learning milestones.
Rounding it off, Chris shares that improved benefits are also instrumental. This can come in the form of flexible work arrangements, unlimited annual leaves, meal allowances, office upgrades and 13th month bonuses.
Salaries for Vietnam’s Tech and Transformation talent are expected to increase slightly in 2023 amidst demand in specific domains.
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